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Uncommon Sources of Finance and Sustainability, Growth and Development of Small Medium-Scale Enterprises in Nigeria

Uncommon Sources of Finance and Sustainability, Growth and Development of Small Medium-Scale Enterprises in Nigeria
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Author(s): Abraham Oketooyin Gbadebo (Osun State University, Niger)
Copyright: 2020
Pages: 15
Source title: Improving Business Performance Through Innovation in the Digital Economy
Source Author(s)/Editor(s): Ionica Oncioiu (Titu Maiorescu University, Romania)
DOI: 10.4018/978-1-7998-1005-6.ch014

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Abstract

This chapter presents uncommon sources of financing SMEs. Finance is indispensable factor for development and growth of SMEs everywhere in the world. However, few people are acquainted to alternative sources of financing SMEs other than the traditional mediums. In Nigeria, lack of knowledge on non-traditional sources of funding has either contributed to the death or slow pace of development of SMEs. Some of the uncommon sources are crowdfunding, merchant cash advance, elusive business grant, and small business administration. In the chapter, the author exposes these sources as well as present guidelines on how they could be accessed.

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